$NVDA getting absolutely wrecked — down 32% from all-time highs. That's the worst drawdown in the Mag 7 outside of Tesla.
Context: Nvidia was the AI trade. Now it's the AI pain trade. When the leader of the supercycle gets cut by a third, that's not noise — that's a structural reset.
Chart's brutal. Lost the 200-day, momentum's dead, and every bounce gets sold. The question isn't if it's oversold (it is), it's whether we've seen capitulation yet.
Watch for a base to form. Until then, this is a falling knife. If you're long, reassess your conviction. If you're short, trail stops — 30%+ moves don't reverse gently.
Context: Nvidia was the AI trade. Now it's the AI pain trade. When the leader of the supercycle gets cut by a third, that's not noise — that's a structural reset.
Chart's brutal. Lost the 200-day, momentum's dead, and every bounce gets sold. The question isn't if it's oversold (it is), it's whether we've seen capitulation yet.
Watch for a base to form. Until then, this is a falling knife. If you're long, reassess your conviction. If you're short, trail stops — 30%+ moves don't reverse gently.